Australia

TotalEnergies Inks Two Partnerships to Develop Natural Carbon Sinks

Regulatory News:

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has established two operational partnerships with Australian carbon developers AgriProve and Corporate Carbon to develop natural below-ground carbon sinks in Australia and help prevent savanna fires, notably in Africa.

1. Partnership with AgriProve: a 20,000-hectare soil carbon sequestration operation to remove and sequester more than 3 million tonnes of CO2e.

Since October 2020, TotalEnergies and AgriProve have been partnering to foster the development of soil carbon sinks in Australia by engaging with, financing, and supporting volunteer farmers in their transition from intensive agriculture to various regenerative agricultural practices.

The new farming systems allow soils that are regenerating through improved farming practices to store much more carbon thanks to richer below-ground biodiversity (roots, nodules, etc.). These richer soils also increase natural productivity, and improve rainfall infiltration and drought resistance, providing greater crop resilience in the face of Australia’s many severe weather events. Farmers in the program also benefit from additional income from the sale of Australian Carbon Credit Units (ACCUs).

Seventy farmers have already joined the project, representing 15,000 hectares of land. This makes it a large innovative aggregation of landowners that are transitioning to regenerative agriculture. Over 25 years, by fixing more carbon in the soil, more than 3 million tonnes of CO₂ equivalent are expected to be removed from the atmosphere and permanently sequestered in the ground.

2. Partnership with Corporate Carbon: an international methodology for savanna fire management based on Australian Indigenous land management know-how to help preserve African landscapes.

Since July 2021, TotalEnergies and Corporate Carbon have been partnering to develop a free, international methodology to prevent savanna fires, along with tools to verify the impact. The methodology is based on Australian Indigenous savanna fire management techniques, which cultivate burning practices that avoid severe late dry season fires.

International Savanna Fire Management Initiative (ISFMI) estimates that savanna fires cause the net emission of 2 gigatonnes of CO₂ equivalent annually, out of which 70% occur in Africa. To help solving this issue, the partnership includes the launch of initial programs with resident populations in the southern Africa region to implement the necessary practices.